Neo Ivy Capital Management Buys Shares of 74,116 Lincoln National Corporation (NYSE:LNC)

Key Points

• Neo Ivy Capital Management acquired 74,116 shares of Lincoln National Corporation, valued at approximately $2,662,000, making it the 19th largest position in their investment portfolio.
• Recent analyst ratings show a mix of price target increases and downgrades, with the stock currently holding an average rating of "Hold" and an average price target of $38.78.
• Lincoln National announced a quarterly dividend of $0.45 per share, indicating a 5.17% dividend yield, with the payout ratio currently at 25.57%.

Neo Ivy Capital Management bought a new position in shares of Lincoln National Corporation (NYSE:LNC - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 74,116 shares of the financial services provider's stock, valued at approximately $2,662,000. Lincoln National accounts for 0.8% of Neo Ivy Capital Management's investment portfolio, making the stock its 19th biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LNC. Hollencrest Capital Management raised its stake in shares of Lincoln National by 383.2% during the first quarter. Hollencrest Capital Management now owns 749 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 594 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Lincoln National in the 4th quarter valued at approximately $32,000. NBC Securities Inc. bought a new stake in Lincoln National during the first quarter worth approximately $33,000. Headlands Technologies LLC acquired a new stake in Lincoln National in the 4th quarter valued at approximately $35,000. Finally, Aster Capital Management DIFC Ltd boosted its position in shares of Lincoln National by 182.2% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,250 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 807 shares during the period. Hedge funds and other institutional investors own 72.81% of the company's stock.

Lincoln National Price Performance

LNC stock traded up $0.16 during midday trading on Monday, reaching $34.99. The company had a trading volume of 386,090 shares, compared to its average volume of 1,908,005. The stock has a 50 day moving average price of $33.70 and a 200-day moving average price of $34.15. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 4.97, a price-to-earnings-growth ratio of 0.50 and a beta of 1.39. Lincoln National Corporation has a 1-year low of $27.58 and a 1-year high of $39.85. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.25 and a quick ratio of 0.25.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.06. The company had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.71 billion. Lincoln National had a return on equity of 18.71% and a net margin of 7.00%. The business's quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 earnings per share. Equities research analysts expect that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date is Thursday, July 10th. Lincoln National's payout ratio is 25.57%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Morgan Stanley raised their price target on shares of Lincoln National from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Barclays upped their price target on Lincoln National from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Wells Fargo & Company raised their target price on shares of Lincoln National from $33.00 to $35.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. increased their price target on Lincoln National from $38.00 to $41.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. Finally, Piper Sandler cut their price target on Lincoln National from $38.00 to $36.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $38.78.

Insider Activity

In related news, EVP Sean Woodroffe sold 43,622 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $32.78, for a total value of $1,429,929.16. Following the transaction, the executive vice president directly owned 154,102 shares in the company, valued at $5,051,463.56. This trade represents a 22.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Kroll sold 10,075 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $33.10, for a total value of $333,482.50. Following the completion of the transaction, the executive vice president owned 48,743 shares in the company, valued at approximately $1,613,393.30. This represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.51% of the company's stock.

About Lincoln National

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.